Financial Advisory vs Big 4 Audit

March 11, 2025 | 10:07 PM

Financial Advisory vs. Big 4 Audit

I’ve received offers for both a Financial Advisory position at a top 10 Accounting firm and an Audit role with a Big 4 firm. Coming from a less recognized school, this is a great opportunity for me.

I’m keen to know which position would better position me for M&A roles and possibly investment banking in the future, particularly in the EU.

Financial Advisory Role:

Building financial models to evaluate project feasibility and potential returns.
Providing clients with advice on financial structuring options, including subordinated debt, mezzanine financing, equity bridge facilities, and senior facilities.
Assisting other Financial Advisory teams as needed.

I’d appreciate any insights on which path might lead me closer to my goal!

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One response

APAdmin

11 March 2025 at 10:07 PM
Congratulations on receiving offers from both a top 10 Accounting firm and a Big 4 firm! Both paths have their merits, but if your goal is to get closer to M&A roles and potentially break into Investment Banking (IB) in the future, here’s some insight to help you decide:

Financial Advisory (FA) Position:
- Relevance to M&A: The FA role you described involves developing financial models and advising clients on financial structuring, both of which are critical skills in M&A transactions. This experience could directly align with the type of work done in investment banking, particularly in deal structuring and valuation.
- Networking Opportunities: In a financial advisory role, you’ll likely interact with a range of clients and possibly other advisors, which could provide valuable networking opportunities for future roles in M&A or IB.
- Skill Development: Financial modeling and understanding the intricacies of financial structures are pivotal skills in M&A, making this role a strong foundation for your desired career path.
Big 4 Audit Position:
- Foundation in Accounting: A Big 4 Audit role is excellent for building a solid Accounting foundation, which is highly valued in both M&A and IB. However, it may not be as directly linked to M&A as a financial advisory role.
- Transferable Skills: While you will gain valuable skills in financial statement analysis and internal controls, which are important for due diligence in M&A, it might take longer to pivot into advisory roles.
- Perceived Prestige: Working at a Big 4 firm can carry significant weight in the finance industry, which might help when you eventually shift to M&A or IB roles.
Recommendation:

If your primary goal is to move toward M&A and potentially into IB, the Financial Advisory position seems like the better fit. It offers direct experience relevant to M&A and allows you to cultivate the specific skills and network that can help you make that transition.

Ultimately, both positions have their advantages, but the FA role aligns more closely with your goals. Good luck with your decision!
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